https://www.scmp.com/rss/11/feed The latest banking, finance and business news from Hong Kong and abroad. en https://assets-v2.i-scmp.com/production/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Peggy Ye Peggy Ye HSBC is turning to coffee, macarons and essential-oil massages to draw customers into its branches, as traditional lenders rethink their physical networks amid growing use of digital banking. The bank is spending HK$4 million (US$510,200) a month on its five-storey Causeway Bay flagship, which opened on Sunday at Capitol Centre in Jardine’s Bazaar. Covering 32,000 square feet, it is “one of the biggest investments in recent years” for HSBC Hong Kong, the bank said. HSBC said the shift reflected... https://www.scmp.com/business/banking-finance/article/3373648/hsbc-bets-hk4-million-month-flagship-branch-keep-physical-outlets-relevant https://www.scmp.com/business/banking-finance/article/3373648/hsbc-bets-hk4-million-month-flagship-branch-keep-physical-outlets-relevant Sun, 08 Nov 2026 08:00:39 +0000 Xinmei Shen Xinmei Shen Global financial leaders who gathered in Hong Kong this week largely sidestepped Beijing’s offshore trust tax crackdown, a lingering near-term hurdle for the city’s otherwise expanding wealth management industry. Beijing’s move earlier this year to step up scrutiny of wealthy families’ overseas assets was barely discussed openly at a series of financial industry events, including the Global Financial Leaders’ Investment Summit and the PWMA Wealth Management Industry Summit 2026, even as it... https://www.scmp.com/business/money/wealth/article/3373542/financial-leaders-tiptoe-around-beijings-asset-scrutiny-hail-hong-kongs-wealth-boom https://www.scmp.com/business/money/wealth/article/3373542/financial-leaders-tiptoe-around-beijings-asset-scrutiny-hail-hong-kongs-wealth-boom Sat, 07 Nov 2026 06:00:18 +0000 Emma Ma Emma Ma Amid a bear market in China’s stock exchanges, Ren Zeping, the high-profile independent economist famed for his prescient call on China’s A-share bull market, is once again in the spotlight for a “gag order” on his social media, though industry insiders say that the move by the platform was not unexpected. Since October 24, Ren Zeping’s WeChat official account “Zeping Macro” could no longer be retrieved via search and would not accept new subscribers. The same restriction applied to his WeChat... https://www.scmp.com/economy/china-economy/article/3373565/former-evergrande-economist-faces-wechat-gag-order-after-buy-dip-call https://www.scmp.com/economy/china-economy/article/3373565/former-evergrande-economist-faces-wechat-gag-order-after-buy-dip-call Sat, 07 Nov 2026 03:00:10 +0000 Xinmei Shen Xinmei Shen Solana, one of the world’s largest blockchain networks, plans to expand in Hong Kong to tap the city’s growing demand for tokenisation, according to a senior executive. “I believe that the biggest opportunity for Solana is actually in [the Asia-Pacific region],” Solana Company chairman and CEO Joseph Chee said in an interview in Hong Kong earlier this week. Founded in the US in 2018, the company is behind one of the most popular cryptocurrencies. With a market capitalisation of about US$53... https://www.scmp.com/business/cryptocurrency/article/3373582/crypto-heavyweight-solana-eyes-hong-kong-expansion-tap-growing-tokenisation-demand https://www.scmp.com/business/cryptocurrency/article/3373582/crypto-heavyweight-solana-eyes-hong-kong-expansion-tap-growing-tokenisation-demand Fri, 06 Nov 2026 12:03:24 +0000 Themis Qi Themis Qi Dutch asset management firm Robeco is planning to expand its presence in Hong Kong to ride the robust wave of wealth creation in the Asia-Pacific region, CEO Karin van Baardwijk said this week. The Rotterdam-headquartered firm, which had client assets totalling US$464 billion in June, would move into a bigger office “very soon”, van Baardwijk said in an interview. She said Asia was one of “the fastest-growing” wealth markets and Hong Kong had demonstrated its “enduring role as a genuinely global... https://www.scmp.com/business/banking-finance/article/3373515/dutch-asset-manager-robeco-planning-expand-presence-hong-kong https://www.scmp.com/business/banking-finance/article/3373515/dutch-asset-manager-robeco-planning-expand-presence-hong-kong Fri, 06 Nov 2026 08:00:37 +0000 Christina Zhao Christina Zhao China’s state intervention in the struggling market accelerated this week, even before the US midterm results gave global markets a jolt. Meanwhile, global executives gathered in Hong Kong to discuss issues ranging from the AI trade to asset diversification and wealth management, amid the city’s better-than-expected quarterly economic expansion. Below are key figures catching market attention this week: Over 300 global executives gathered in Hong Kong The Global Financial Leaders’ Investment... https://www.scmp.com/business/banking-finance/article/3373528/finance-summit-ai-driven-stock-rout-5-figures-investors-are-watching-china https://www.scmp.com/business/banking-finance/article/3373528/finance-summit-ai-driven-stock-rout-5-figures-investors-are-watching-china Fri, 06 Nov 2026 07:46:02 +0000 Zhu Wenqian,Enoch Yiu Zhu Wenqian,Enoch Yiu Hong Kong’s Exchange Fund, the war chest used to defend the local currency, reported a 74 per cent tumble in third-quarter earnings amid pervasive market uncertainty. The outlook for the final quarter is also challenging, the Hong Kong Monetary Authority (HKMA) said on Friday. Earnings totalled HK$18.6 billion (US$2.4 billion) in the quarter, plunging from HK$70.8 billion a year earlier. For the first nine months of 2026, total earnings slid 39.6 per cent from a year earlier to HK$171.9... https://www.scmp.com/business/banking-finance/article/3373507/hong-kongs-exchange-fund-earnings-tumble-74-hkma-warns-more-market-turbulence https://www.scmp.com/business/banking-finance/article/3373507/hong-kongs-exchange-fund-earnings-tumble-74-hkma-warns-more-market-turbulence Fri, 06 Nov 2026 05:35:25 +0000 Emma Ma Emma Ma After the Democrats swept the US midterm elections, a divided government may help restrain future Treasury borrowing and prevent fresh deficit blowouts, though it will not necessarily bring down elevated bond yields, analysts say. The US Treasury Department unveiled its quarterly refunding statement on Wednesday, with market participants describing the overall borrowing outlook as largely neutral. Based on its projected financing needs, the Treasury said it expected to keep note and bond auction... https://www.scmp.com/economy/global-economy/article/3373359/us-borrowing-outlook-steadies-after-midterms-treasury-yields-face-new-tests-analysts https://www.scmp.com/economy/global-economy/article/3373359/us-borrowing-outlook-steadies-after-midterms-treasury-yields-face-new-tests-analysts Thu, 05 Nov 2026 13:00:07 +0000 Themis Qi Themis Qi US asset manager Federated Hermes has opened its office in Hong Kong, after two years of preparation, joining a wave of international financial giants competing for growth in the Asia-Pacific region. The company, which managed US$884 billion worth of assets as of September, considered a Hong Kong office two years ago and its board approved a plan a year later. Its office in the Nexxus Building in Central adds to its Asia-Pacific footprint in Singapore, Tokyo and Sydney. “Hong Kong is a premier... https://www.scmp.com/business/banking-finance/article/3373349/us-asset-manager-federated-hermes-opens-hong-kong-office-tap-chinas-tech-rise https://www.scmp.com/business/banking-finance/article/3373349/us-asset-manager-federated-hermes-opens-hong-kong-office-tap-chinas-tech-rise Thu, 05 Nov 2026 07:00:08 +0000 Morning Studio editors Morning Studio editors For Dinesh Verma, managing risk begins long before a problem becomes visible. It is a principle that has guided his work as a physiotherapist, his decision-making as an entrepreneur and, increasingly, his approach to managing his wealth. Originally from India, Verma moved to Singapore in 1989 to work as a clinical physiotherapist, but eventually transitioned his career beyond clinical practice after earning a master of business administration (MBA) degree, adding a broader commercial lens onto... https://www.scmp.com/native/business/banking-finance/topics/wealth-across-borders/article/3373058/physiotherapists-clinical-mindset-shapes-approach-managing-business-and-wealth-across-borders https://www.scmp.com/native/business/banking-finance/topics/wealth-across-borders/article/3373058/physiotherapists-clinical-mindset-shapes-approach-managing-business-and-wealth-across-borders Thu, 05 Nov 2026 03:00:06 +0000 Zoe SL Chan Zoe SL Chan Beijing is expanding its central bank-backed digital currency network to offshore institutions, including Hong Kong branches, while banks are also exploring local e-CNY wallets for foreign firms to deepen cross-border integration. “We currently have 30 domestic banks as e-CNY operators. Right now we’re working to extend this capability to offshore banks,” Lu Yuan, deputy head of the People’s Bank of China’s digital currency research institute, said on a panel at Hong Kong’s Fintech Week. “We... https://www.scmp.com/business/banking-finance/article/3373264/chinese-banks-explore-local-e-cny-wallets-foreign-firms-upgraded-platform https://www.scmp.com/business/banking-finance/article/3373264/chinese-banks-explore-local-e-cny-wallets-foreign-firms-upgraded-platform Thu, 05 Nov 2026 02:00:11 +0000 Themis Qi,Tim Yuen Lingk Themis Qi,Tim Yuen Lingk Most asset managers in Hong Kong expect broader access to mainland China’s two Nasdaq-style stock markets to strengthen the city’s private wealth business, an industry survey shows, as hard-tech firms continue to attract investors despite a recent pullback. The report, released by the Private Wealth Management Association (PWMA) and KPMG China, surveyed most of the association’s 44 institutional members, ranging from Agricultural Bank of China (Hong Kong) to UBS, as well as asset managers and... https://www.scmp.com/business/banking-finance/article/3373269/why-hong-kong-wealth-managers-want-broader-access-mainland-chinas-nasdaq-style-markets https://www.scmp.com/business/banking-finance/article/3373269/why-hong-kong-wealth-managers-want-broader-access-mainland-chinas-nasdaq-style-markets Thu, 05 Nov 2026 01:00:12 +0000 Chris Tsang Chris Tsang New World Development’s recent announcement that its Shanghai K11 Elysea office project has reached an occupancy rate of about 80 per cent may pave the way for the indebted group’s next securitisation exercise, analysts say, adding that it could generate 100 million yuan (US$15 million) in annual net operating income. The company said on Tuesday that new tenants, including luxury brands Hermes and Rolex, were preparing to move into the project’s office component on Huaihai Middle Road. Others... https://www.scmp.com/business/companies/article/3373251/could-shanghai-project-smooth-indebted-new-worlds-path-cash https://www.scmp.com/business/companies/article/3373251/could-shanghai-project-smooth-indebted-new-worlds-path-cash Wed, 04 Nov 2026 23:00:14 +0000 Advertising partner Advertising partner [The content of this article has been produced by our advertising partner.] By recently winning the prestigious Zeiss Award for the 10th consecutive year, EuroEyes International has once again been recognised for its pioneering work and, in particular, for performing the highest number of trifocal lens implantations in clinics around the world.    The independent company, which was founded in Hamburg in 1993, specialises in presbyopia correction, cataract surgery and intraocular lens procedures... https://www.scmp.com/presented/business/banking-finance/topics/euroeyes-vision-future/article/3372973/latest-award-confirms-euroeyes-international-market-leader https://www.scmp.com/presented/business/banking-finance/topics/euroeyes-vision-future/article/3372973/latest-award-confirms-euroeyes-international-market-leader Wed, 04 Nov 2026 16:00:06 +0000 Daniel Ren Daniel Ren US stocks rose after markets opened on Wednesday following the Democrats’ crushing victory in the US midterm elections, as the convincing result lifted some of the political uncertainty hanging over Wall Street. The S&P 500 opened 1.1 per cent higher at 9.30am local time, while the Dow Jones Industrial Average added 1.9 per cent after trading started and the Nasdaq Composite jumped 1.1 per cent. Analysts said the buoyant sentiment reflected investors’ eased concerns about abrupt policy shifts in... https://www.scmp.com/business/companies/article/3373309/democrats-midterm-triumph-sends-us-stocks-soaring-tesla-spacex-fall https://www.scmp.com/business/companies/article/3373309/democrats-midterm-triumph-sends-us-stocks-soaring-tesla-spacex-fall Wed, 04 Nov 2026 15:06:38 +0000 Yulu Ao Yulu Ao Swiss private banking executives have acknowledged Hong Kong’s growing prominence as a global cross-border wealth-management hub, as geopolitical tensions prompt wealthy clients to diversify not only their investments but also where their assets are held. “The race is on,” said Giorgio Pradelli, CEO of Swiss private bank EFG International, during a panel discussion on Wednesday at the Global Financial Leaders’ Investment Summit hosted by the Hong Kong Monetary Authority (HKMA). He was referring... https://www.scmp.com/business/china-business/article/3373250/race-swiss-bankers-nod-hong-kongs-prowess-wealth-hub https://www.scmp.com/business/china-business/article/3373250/race-swiss-bankers-nod-hong-kongs-prowess-wealth-hub Wed, 04 Nov 2026 10:00:14 +0000 Zhang Shidong Zhang Shidong Follow the SCMP’s live coverage here A comprehensive victory for the Democrats in the US midterms has jolted asset classes from stocks to bonds and commodities in Asia, as investors expect the US Congress to tighten scrutiny over the AI industry and government spending. Stocks in the region closed mixed on Wednesday, with investors bracing for heightened US regulatory oversight over the AI buildout. US Treasury yields fell on optimism that a Democratic-controlled Congress might restrict debt... https://www.scmp.com/business/markets/article/3373266/us-midterms-blue-wave-jolts-asian-markets-tighter-ai-fiscal-scrutiny-looms https://www.scmp.com/business/markets/article/3373266/us-midterms-blue-wave-jolts-asian-markets-tighter-ai-fiscal-scrutiny-looms Wed, 04 Nov 2026 09:43:22 +0000 Xinmei Shen Xinmei Shen Private banking giant Julius Baer expects Asia to play a major role in its growth in the near term as investors seek diversification amid rising AI risks in the US, according to its chief executive. “The AI bubble is building and lots of people are very nervous about how much AI risk they have,” Julius Baer group CEO Stefan Bollinger said in an interview in Hong Kong on Tuesday. Investors who have long been “over-indexed” to the US dollar and US equities now face increased exposure, as... https://www.scmp.com/business/banking-finance/article/3373195/asia-drive-julius-baer-growth-investors-diversify-amid-looming-us-ai-risks-ceo https://www.scmp.com/business/banking-finance/article/3373195/asia-drive-julius-baer-growth-investors-diversify-amid-looming-us-ai-risks-ceo Wed, 04 Nov 2026 03:00:16 +0000 Tim Yuen Lingk Tim Yuen Lingk An executive at US bank State Street said he expects the uses of artificial intelligence in finance to “multiply” in the coming years, but stressed that “responsible deployment” is vital as the industry confronts daunting potential security risks. The call came on the first day of the Global Financial Leaders’ Investment Summit in Hong Kong, where executives from leading firms including Goldman Sachs, Morgan Stanley, JPMorgan, Pimco and Bridgewater shared their insights on the dawning era of AI... https://www.scmp.com/business/banking-finance/article/3373193/banks-must-be-responsible-industry-races-deploy-ai-agents-state-street https://www.scmp.com/business/banking-finance/article/3373193/banks-must-be-responsible-industry-races-deploy-ai-agents-state-street Wed, 04 Nov 2026 01:01:04 +0000 Ji Siqi Ji Siqi As concerns over the financial health of a state-owned conglomerate rattled China’s bond market over the past week, analysts said its challenges reflected the lasting toll of the country’s prolonged property crisis, with local governments struggling to find sustainable alternatives beyond real estate to support their economies. At the centre of the storm is Zhuhai Huafa Group, the largest local government-owned enterprise in Zhuhai in southern China’s Guangdong province. While property... https://www.scmp.com/economy/china-economy/article/3373162/debt-fears-swirling-around-state-giant-shine-light-chinas-post-property-reality https://www.scmp.com/economy/china-economy/article/3373162/debt-fears-swirling-around-state-giant-shine-light-chinas-post-property-reality Wed, 04 Nov 2026 01:00:13 +0000 Daniel Ren Daniel Ren China’s central bank governor has reaffirmed support for the country’s beleaguered stock market after a series of rescue measures failed to put a floor under plummeting share prices. Pan Gongsheng, governor of the People’s Bank of China (PBOC), pledged in a work report presented to the standing committee of the National People’s Congress on Tuesday that more actions would be taken to ease financial risks in key areas, including the capital market and the property sector. “Monetary policy tools... https://www.scmp.com/business/china-business/article/3373166/pboc-pledges-support-stocks-chinas-market-slide-defies-rescue-efforts https://www.scmp.com/business/china-business/article/3373166/pboc-pledges-support-stocks-chinas-market-slide-defies-rescue-efforts Tue, 03 Nov 2026 12:50:16 +0000 Zhu Wenqian Zhu Wenqian With more than 280 global executives in Hong Kong attending the 2026 Global Financial Leaders’ Investment Summit, the market has been paying attention to what they have to say on today’s hot topics, including artificial intelligence investments, market corrections, asset diversification and the transformation of financial industries. Here are excerpts of what some of the financial industry heavyweights said during panel sessions on the first day of the summit. Sergio P. Ermotti, UBS Group... https://www.scmp.com/business/banking-finance/article/3373157/their-own-words-top-global-finance-chiefs-ai-bets-market-shifts-and-diversification https://www.scmp.com/business/banking-finance/article/3373157/their-own-words-top-global-finance-chiefs-ai-bets-market-shifts-and-diversification Tue, 03 Nov 2026 11:22:43 +0000 Yulu Ao Yulu Ao Global financial executives have voiced confidence in Hong Kong’s role as a bridge between mainland China and the rest of the world and as a safe haven helping businesses and investors navigate geopolitical tensions and shifting global capital flows. Speaking at the city’s annual Global Financial Leaders’ Investment Summit on Tuesday, banking leaders discussed how financial institutions were rethinking business and operational strategies in an increasingly uncertain environment, while... https://www.scmp.com/business/china-business/article/3373156/amid-global-uncertainty-top-bankers-back-hong-kongs-role-mainland-chinas-gateway https://www.scmp.com/business/china-business/article/3373156/amid-global-uncertainty-top-bankers-back-hong-kongs-role-mainland-chinas-gateway Tue, 03 Nov 2026 11:08:20 +0000 Peggy Ye Peggy Ye The artificial intelligence boom is creating an unprecedented demand for capital and infrastructure, raising questions about whether debt markets, power grids and corporate productivity can keep pace with the technology’s expansion, executives of global asset management firms warned at a Hong Kong summit. Investment in AI infrastructure could reach US$10 trillion over the next five years, approaching the size of the US$12 trillion US bond market, said Emmanuel Roman, CEO of Pimco. “At some point... https://www.scmp.com/business/banking-finance/article/3373108/some-point-its-going-be-too-much-global-financiers-grapple-ai-risks https://www.scmp.com/business/banking-finance/article/3373108/some-point-its-going-be-too-much-global-financiers-grapple-ai-risks Tue, 03 Nov 2026 09:00:07 +0000 Yulu Ao Yulu Ao Hong Kong is poised to play a bigger role in helping global investors diversify their portfolios as geopolitical uncertainties reshape capital flows and drive demand for alternative markets and asset classes, a senior executive from Bank of China said on Tuesday. The city’s position as an international financial centre, its links between mainland China and global markets, and its offshore yuan market make it an important gateway for cross-border investment, according to Bank of China president... https://www.scmp.com/business/banking-finance/article/3373107/hong-kongs-superconnector-role-key-geopolitics-reshapes-capital-flows-says-banker https://www.scmp.com/business/banking-finance/article/3373107/hong-kongs-superconnector-role-key-geopolitics-reshapes-capital-flows-says-banker Tue, 03 Nov 2026 07:38:07 +0000 Sylvia Ma Sylvia Ma China plans to expand foreign exchange settlement services and streamline cross-border trade payments, in a move to lower transaction costs and facilitate international commerce. The State Administration of Foreign Exchange (Safe) on Monday released a draft notice for public consultation outlining nine measures to facilitate current-account foreign exchange transactions. The proposals aimed to “broaden the applicable scenarios, scope and types of services” and “further reduce businesses’ fund... https://www.scmp.com/economy/policy/article/3373093/china-moves-simplify-forex-settlements-and-make-cross-border-business-easier https://www.scmp.com/economy/policy/article/3373093/china-moves-simplify-forex-settlements-and-make-cross-border-business-easier Tue, 03 Nov 2026 07:00:08 +0000 Xinmei Shen Xinmei Shen Hong Kong’s plan to start an interbank tokenised gold transaction project marks a crucial step in its quest to make itself a key global hub for the precious metal, according to analysts. The city planned to launch a gold token representing a standard 400-ounce gold bar, referencing HAU, Hong Kong’s ticker for gold prices launched earlier this year, said Secretary for Financial Services and the Treasury Christopher Hui Ching-yu during the annual Fintech Week event on Monday. He said the effort... https://www.scmp.com/business/banking-finance/article/3373071/tokenised-gold-bar-advance-hong-kongs-ambitions-digital-metal-trading-hub https://www.scmp.com/business/banking-finance/article/3373071/tokenised-gold-bar-advance-hong-kongs-ambitions-digital-metal-trading-hub Tue, 03 Nov 2026 03:54:43 +0000 Advertising partner Advertising partner [The content of this article has been produced by our advertising partner.] Hong Kong, November 2, 2026 — HashKey Group (3887.HK), a leading Asian digital asset company, today announced that, its is among the first institutional clients to adopt Standard Chartered’s newly launched institutional tokenised deposit solution. HashKey is using the solution to support its institutional treasury management and settlement use cases. Tokenized deposits are the digital representations of commercial bank... https://www.scmp.com/presented/business/banking-finance/topics/hashkey-standard-chartered-cooperation/article/3372964/hashkey-adopts-tokenised-deposit-cross-market-treasury-and-liquidity-management-standard-chartereds https://www.scmp.com/presented/business/banking-finance/topics/hashkey-standard-chartered-cooperation/article/3372964/hashkey-adopts-tokenised-deposit-cross-market-treasury-and-liquidity-management-standard-chartereds Tue, 03 Nov 2026 02:16:10 +0000 Sylvia Ma Sylvia Ma The People’s Bank of China announced on Tuesday that it would raise the reserve requirement ratio on foreign exchange deposits by 2 percentage points. The ratio would be 6 per cent, effective November 15, the central bank said in a statement, calling it a move to strengthen the liquidity management of financial institutions. The policy, which would require banks to hold a larger share of their foreign currency deposits in reserve at the central bank, is expected to tighten onshore... https://www.scmp.com/business/article/3373053/pboc-raise-reserve-requirement-ratio-foreign-exchange-deposits-2-percentage-points https://www.scmp.com/business/article/3373053/pboc-raise-reserve-requirement-ratio-foreign-exchange-deposits-2-percentage-points Tue, 03 Nov 2026 01:13:12 +0000 Zoe SL Chan Zoe SL Chan Bourse operator Hong Kong Exchanges and Clearing (HKEX) is taking a further step towards round-the-clock trading by pushing back the closing bell for its after-hours derivatives market by 75 minutes from next year, according to a statement released on Monday. The derivatives After-Hours Trading (AHT) session would extend to 4.15am from 3am, Hong Kong time, starting in March 2027, subject to regulatory approval and system readiness, according to HKEX. It added it was also considering a further... https://www.scmp.com/business/markets/article/3373015/hkex-extends-overnight-derivatives-trading-hong-kong-chases-global-market-flow https://www.scmp.com/business/markets/article/3373015/hkex-extends-overnight-derivatives-trading-hong-kong-chases-global-market-flow Mon, 02 Nov 2026 12:12:27 +0000 Xinmei Shen Xinmei Shen Hong Kong has touted rapid progress in the first year of its five-year fintech strategy, pledging to double down on artificial intelligence and tokenisation even as many initiatives face the challenge of achieving commercial scale. Tokenisation, for instance, had moved from the sandbox “into the real world”, said Eddie Yue Wai-man, chief executive of the Hong Kong Monetary Authority (HKMA), at the city’s annual FinTech Week conference on Monday. Hong Kong had authorised 17 tokenised public funds... https://www.scmp.com/business/banking-finance/article/3372968/how-hong-kongs-fintech-strategy-progressing-and-where-growth-still-lags https://www.scmp.com/business/banking-finance/article/3372968/how-hong-kongs-fintech-strategy-progressing-and-where-growth-still-lags Mon, 02 Nov 2026 10:00:07 +0000 Neil Denslow,Haining Gao Neil Denslow,Haining Gao Chinese stocks rose following a report that financial regulators were set to discuss support measures with industry participants following a record 12-week sell-off. The CSI 300 Index closed up 0.8 per cent, while Shanghai’s tech-heavy Star 50 rose 3.1 per cent, the most since mid-September. Securities companies were among notable gainers marketwide, with Sinolink Securities and Pacific Securities both climbing by the 10 per cent daily limit. Hong Kong stocks gained 0.4 per cent. The People’s... https://www.scmp.com/plus/business/banking-finance/article/3372986/chinas-battered-stocks-get-little-relief-latest-support-efforts https://www.scmp.com/plus/business/banking-finance/article/3372986/chinas-battered-stocks-get-little-relief-latest-support-efforts Mon, 02 Nov 2026 09:00:09 +0000 Themis Qi,Xinmei Shen Themis Qi,Xinmei Shen HSBC said its RedCoin retail stablecoin has attracted 50,000 users since its official launch just over a week ago, as the city’s largest lender remains committed to exploring new technologies in the city. The figures were revealed by HSBC group CEO Georges Elhedery during a panel discussion on the first day of Hong Kong FinTech Week, which kicked off on Monday. Elhedery also attributed the quick ramp-up to the “comfortable” regulatory environment that the Hong Kong Monetary Authority (HKMA) had... https://www.scmp.com/business/banking-finance/article/3372972/hsbcs-redcoin-stablecoin-draws-50000-users-first-week-bank-deepens-local-tech-push https://www.scmp.com/business/banking-finance/article/3372972/hsbcs-redcoin-stablecoin-draws-50000-users-first-week-bank-deepens-local-tech-push Mon, 02 Nov 2026 07:59:30 +0000 Xinmei Shen Xinmei Shen Hong Kong-based WeBank Technology Services, a fintech unit of Tencent Holdings-backed Chinese online lending giant WeBank, generated tens of millions of dollars in revenue last year amid rising demand for digital banking infrastructure in Southeast Asia, according to a senior executive. WeBank Technology, which provides digital banking solutions, was established in Hong Kong in June 2024 to tap markets in countries taking part in Beijing’s Belt and Road Initiative. The company was seeing rapid... https://www.scmp.com/business/banking-finance/article/3372916/chinas-webank-finds-growth-southeast-asia-mining-high-digital-banking-demand https://www.scmp.com/business/banking-finance/article/3372916/chinas-webank-finds-growth-southeast-asia-mining-high-digital-banking-demand Mon, 02 Nov 2026 05:00:25 +0000 Zoe SL Chan,Themis Qi Zoe SL Chan,Themis Qi Hong Kong’s initial public offering (IPO) momentum has cooled sharply in the fourth quarter amid market volatility and tighter regulatory scrutiny, but industry players say a year-end rush of listings could still help the city secure a top-three global ranking for 2026. The market has slowed significantly since October, with only three new listings, all of which closed below their offer prices on debut. Two other IPO candidates shelved their listings after completing procedures, testing Hong... https://www.scmp.com/business/markets/article/3372736/has-hong-kongs-ipo-boom-hit-wall-or-year-end-rush-still-come https://www.scmp.com/business/markets/article/3372736/has-hong-kongs-ipo-boom-hit-wall-or-year-end-rush-still-come Mon, 02 Nov 2026 01:00:15 +0000 Daisy Wu Daisy Wu When hundreds of global finance leaders converge in Hong Kong this week, the question on their minds will be whether traditional investment strategies remain viable against escalating geopolitical friction and the rapid ascent of artificial intelligence. Investors have been keen for an answer – or at least clear clues – given that US President Donald Trump has been threatening a new round of strikes on Iran, and after Friday’s sharp sell-off in technology stocks elevated concerns about the... https://www.scmp.com/business/banking-finance/article/3372873/hong-kong-summit-test-wall-street-sentiment-amid-geopolitical-strains-tech-volatility https://www.scmp.com/business/banking-finance/article/3372873/hong-kong-summit-test-wall-street-sentiment-amid-geopolitical-strains-tech-volatility Sun, 01 Nov 2026 23:30:16 +0000 Daisy Wu Daisy Wu On November 4 last year, Zohran Mamdani won the New York mayoral election on a promise to make the city more affordable, with expanded social programmes funded in part by raising taxes on the city’s wealthiest residents and most profitable corporations. Nearly a year since his upset victory, he has secured one major piece of that agenda: a surcharge on high-end second homes. He also continues to push for higher corporate and income taxes. The proposals have intensified criticism of Mamdani, a... https://www.scmp.com/business/money/wealth/article/3372833/big-apple-vs-pearl-orient-how-higher-taxes-new-york-may-open-door-hong-kong https://www.scmp.com/business/money/wealth/article/3372833/big-apple-vs-pearl-orient-how-higher-taxes-new-york-may-open-door-hong-kong Sun, 01 Nov 2026 12:00:12 +0000 Christina Zhao Christina Zhao This week, China’s stock market slipped into a bear market, prompting the state-backed “national team” to pour about 170 billion yuan (US$25.52 billion) into exchange-traded funds (ETFs); Standard Chartered beat forecasts with a 46 per cent jump in third-quarter net profit; and the US Federal Reserve held rates steady, which also left Hong Kong’s base rate unchanged. Meanwhile, an offshore yuan bond structure known as Yulan made its debut in Dubai, and residential rents in Hong Kong extended a... https://www.scmp.com/business/markets/article/3372668/national-team-intervention-yulan-bonds-5-figures-investors-are-watching https://www.scmp.com/business/markets/article/3372668/national-team-intervention-yulan-bonds-5-figures-investors-are-watching Fri, 30 Oct 2026 07:00:07 +0000 Peggy Ye Peggy Ye Liquidators of China Evergrande Group have agreed to sell a controlling stake in its property management arm to investment firm PAG for HK$4.03 billion (US$513.6 million), as they seek to recover assets for creditors owed US$46 billion. The sale of a 51.016 per cent stake in Evergrande Property Services could give the profitable business a new controlling shareholder after its parent used billions of yuan of its bank deposits as collateral for loans, leaving the company struggling to recover the... https://www.scmp.com/business/banking-finance/article/3372681/evergrande-liquidators-sell-controlling-stake-property-services-unit-us513-million https://www.scmp.com/business/banking-finance/article/3372681/evergrande-liquidators-sell-controlling-stake-property-services-unit-us513-million Fri, 30 Oct 2026 05:24:31 +0000 Advertising partner Advertising partner [The content of this article has been produced by our advertising partner.] The first DBS Hong Kong Visa Infinite Priviledge Card has finally arrived. The “DBS Vantage Card" marks a new chapter in affluent banking as we see a stronger connection has been built through wealth, travel and lifestyle in the recent years. This card brings together premium payment privileges; cross-border convenience and curated lifestyle experiences in a single tap. According to Emily Ip, Head of Cards and Unsecured... https://www.scmp.com/presented/business/banking-finance/topics/dbs-vantage-card/article/3371843/dbs-vantage-card-elevates-dbs-treasures-experience-hong-kongs-first-visa-infinite-privilege-card https://www.scmp.com/presented/business/banking-finance/topics/dbs-vantage-card/article/3371843/dbs-vantage-card-elevates-dbs-treasures-experience-hong-kongs-first-visa-infinite-privilege-card Thu, 29 Oct 2026 16:00:08 +0000 Enoch Yiu Enoch Yiu Recent unrest in France and the Middle East war could prompt investors to seek greater diversification, potentially driving capital inflows to Asian markets in the coming months – including mainland China and Hong Kong – according to a senior executive of Allianz Global Investors (AllianzGI), one of Europe’s largest fund houses. Julie Koo, head of distribution in Asia-Pacific for the company, said the recent protests in France, Italy and Spain would lead investors to review and adjust their... https://www.scmp.com/business/markets/article/3372502/hong-kong-poised-capital-inflow-amid-unrest-france-middle-east-war-allianzgi https://www.scmp.com/business/markets/article/3372502/hong-kong-poised-capital-inflow-amid-unrest-france-middle-east-war-allianzgi Thu, 29 Oct 2026 06:00:40 +0000 Daisy Wu,Enoch Yiu Daisy Wu,Enoch Yiu The Hong Kong Monetary Authority (HKMA) warned of considerable uncertainty over the path of US interest rates as it kept its base rate unchanged at 4.25 per cent on Thursday, hours after the US Federal Reserve also held its benchmark rate steady. Hong Kong’s three note-issuing banks – HSBC, Bank of China (Hong Kong) and Standard Chartered – all followed the HKMA’s lead, keeping their prime rates unchanged. The Hong Kong dollar could continue to weaken due to the gap between Hong Kong and US... https://www.scmp.com/business/banking-finance/article/3372495/hong-kong-holds-base-rate-425-after-us-federal-reserve-decision https://www.scmp.com/business/banking-finance/article/3372495/hong-kong-holds-base-rate-425-after-us-federal-reserve-decision Wed, 28 Oct 2026 23:09:59 +0000 Xinmei Shen Xinmei Shen In September, Chief Executive John Lee Ka-chiu unveiled the city’s first five-year plan along with his policy address, highlighting Hong Kong’s strategic role in promoting the greater use of the yuan outside mainland China as a key priority. In the third part of a four-part series on the globalisation of the yuan, Xinmei Shen explores how Hong Kong is testing the interoperability of the e-CNY and other digital assets in an effort to broaden the currency’s international appeal. In a US Senate... https://www.scmp.com/business/banking-finance/article/3372448/beijing-wants-hong-kong-sow-seeds-digital-yuan-will-its-plans-bear-fruit https://www.scmp.com/business/banking-finance/article/3372448/beijing-wants-hong-kong-sow-seeds-digital-yuan-will-its-plans-bear-fruit Wed, 28 Oct 2026 22:00:10 +0000 Emma Ma Emma Ma Against a backdrop of geopolitical strains in the Middle East, the Yulan renminbi bond structure has made its debut in Dubai, garnering strong investor interest with its order book more than five times oversubscribed, as global investor appetite for yuan assets remains firm. Bank of China Dubai rang the listing bell at Nasdaq Dubai on Tuesday for its offshore bond, issued under the Yulan structure. Priced at 2 billion yuan (US$299.6 million) with a two-year tenor, the deal tightened 50 basis... https://www.scmp.com/economy/china-economy/article/3372411/yulan-bond-debuts-dubai-amid-beijings-yuan-denominated-asset-push https://www.scmp.com/economy/china-economy/article/3372411/yulan-bond-debuts-dubai-amid-beijings-yuan-denominated-asset-push Wed, 28 Oct 2026 07:07:07 +0000 Daisy Wu Daisy Wu JPMorgan Asset Management (JPMAM) expects to launch more actively managed exchange-traded funds (ETFs) in mainland China after its first such fund there hit the 2 billion yuan (US$300 million) fundraising cap on the first day of sales, its China chief said. “The first launch is just an opening move in a much bigger game,” Desiree Wang, the firm’s CEO for China, said in an interview with the South China Morning Post on Tuesday. Any active strategy that suits the ETF vehicle and meets investor... https://www.scmp.com/business/companies/article/3372384/jpmam-plans-more-active-etfs-china-after-debut-fund-hits-us300-million-cap-day-one https://www.scmp.com/business/companies/article/3372384/jpmam-plans-more-active-etfs-china-after-debut-fund-hits-us300-million-cap-day-one Wed, 28 Oct 2026 07:00:06 +0000 Yulu Ao Yulu Ao Standard Chartered’s third-quarter net profit rose 46 per cent as strong growth in wealth management and lower credit impairment buffered one of Hong Kong’s three note-issuing banks from provisions linked to geopolitical tensions. The bank’s shares surged as much as 8.7 per cent after the earnings report was released, before paring gains to close 7.6 per cent higher at HK$219.80 on Wednesday. Net profit increased to US$1.5 billion, or 68.9 US cents per share, in the quarter that ended on... https://www.scmp.com/business/banking-finance/article/3372386/standard-chartered-beats-forecast-wealth-business-powers-third-quarter-profit https://www.scmp.com/business/banking-finance/article/3372386/standard-chartered-beats-forecast-wealth-business-powers-third-quarter-profit Wed, 28 Oct 2026 04:28:23 +0000 Daisy Wu Daisy Wu In September, Chief Executive John Lee Ka-chiu unveiled the city’s first five-year plan along with his policy address, highlighting Hong Kong’s strategic role in promoting the greater use of the yuan outside mainland China as a key priority. In the second part of a four-part series on the globalisation of the yuan, Daisy Wu examines Hong Kong’s evolution from an offshore reservoir into a self-sustaining yuan ecosystem. Of the hundreds of thousands of people who cross the border between mainland... https://www.scmp.com/business/banking-finance/article/3372292/how-hong-kong-went-yuan-gateway-complete-currency-ecosystem https://www.scmp.com/business/banking-finance/article/3372292/how-hong-kong-went-yuan-gateway-complete-currency-ecosystem Tue, 27 Oct 2026 22:00:15 +0000 Xiaofei Xu Xiaofei Xu A former high-ranking official with China’s securities regulator was sentenced to death with a two-year reprieve on Tuesday over bribery charges, as Beijing continues its sweeping anti-corruption campaign. Wang Huimin, who served as a member of the Communist Party committee of the China Securities Regulatory Commission (CSRC) from 2014 to 2019, was found to have taken more than 436 million yuan (US$65 million) in bribes. “The amount involved was especially large and caused especially heavy... https://www.scmp.com/business/banking-finance/article/3372339/china-hands-former-regulator-suspended-death-sentence-over-us65m-bribery-charge https://www.scmp.com/business/banking-finance/article/3372339/china-hands-former-regulator-suspended-death-sentence-over-us65m-bribery-charge Tue, 27 Oct 2026 13:35:34 +0000 Daisy Wu Daisy Wu Chinese and Hong Kong stocks have lagged an artificial intelligence-driven rally across Asia, but J.P. Morgan Asset Management remained “structurally very positive” on both markets, according to a senior executive at the firm. Chinese markets offered “a lot of depth and breadth” and ample liquidity despite widespread headwinds, Ayaz Ebrahim, the firm’s CEO for Singapore, Southeast Asia and India, told the South China Morning Post in an interview on Monday. “Markets that work have a strong... https://www.scmp.com/business/companies/article/3372245/depth-and-breadth-strong-liquidity-anchor-china-stock-outlook-jpmam https://www.scmp.com/business/companies/article/3372245/depth-and-breadth-strong-liquidity-anchor-china-stock-outlook-jpmam Tue, 27 Oct 2026 07:00:07 +0000 Zoe SL Chan Zoe SL Chan Hong Kong’s fundraising market is now facing a severe test, as the last-minute halt of two initial public offerings (IPOs) within a week raises concerns over investor appetite amid market volatility and stricter regulation, analysts say. Robotics maker Changzhou Microintelligence decided to postpone its IPO due to “the consideration of several factors, including prevailing market conditions”, according to its Sunday announcement – echoing reasons cited in previous deals pulled from the... https://www.scmp.com/business/banking-finance/article/3372196/hong-kong-market-faces-fundraising-test-after-fourth-ipo-pulled-midyear https://www.scmp.com/business/banking-finance/article/3372196/hong-kong-market-faces-fundraising-test-after-fourth-ipo-pulled-midyear Tue, 27 Oct 2026 02:00:09 +0000